Commenting on how drab 2023 UK GDP figures should act as a prompt for businesses to reassess their lending, Douglas Grant (pictured), Group CEO of Manx Financial Group, said: “2023 UK GDP figures paint a picture of sluggishness, bleakness, and lacklustre economic performance. The unwelcomed drab monthly data exacerbate d the challenges for SMEs, keeping the country on the edge of recession. As the year concludes, SMEs should use this period as a prompt to reassess their current lending structures and ensure readiness for potential economic turbulence in 2024 .
